Regulatory compliance start-up Zango has raised $4.8 million, in a seed round led by Nexus Venture Partners with participation from South Park Commons — the company’s first backer where Zango was incubated. Others who participated in this round include Richard Davies, CEO of Allica Bank, Alan Morgan, Senior Partner Financial Services at McKinsey (EMEA) and Chairman Adfisco, Mark Ransford, Notion Capital, No Label Ventures and Start Ventures.

The funds raised will be used to expand teams in London and Bengaluru along with building out the other product modules for an AI-native Governance Risk and Compliance (GRC). Zango will expand into other verticals of financial services as well outside of banking to insurance and asset management

Traditional SaaS stops at KYC and AML, leaving the rest of compliance buried in spreadsheets and manual reviews. Zango changes that with their regulation-aware AI agents that continuously track regulatory updates (horizon scanning), identify compliance gaps in real time, and keep firms audit-ready — no operational drag, no surprises.

Zango is actively used by established banks such as Novobanco, the fourth-largest bank in Portugal, and is gaining traction with leading neo banks in the EU and UK, including Monzo and Juni.

“We don’t sell a platform — we sell a solution,” said Ritesh Singhania, Co-founder of Zango. “Our AI agents are paired with humans-in-the-loop to ensure 100 per cent accuracy. Peace of mind doesn’t come from a tool; it comes from a result. That’s why we win against consultants — because they don’t just sell software, and neither do we.”

Zango was co-founded by Ritesh Singhania and Shashank Agarwal, both second-time founders with deep experience in regulatory technology. Ritesh previously founded ClearGlass, a pension compliance platform, and served as Head of Technology at Simplitium (acquired by NASDAQ). Shashank co-founded Third Watch, an AI-powered fraud detection start-up (acquired by Razorpay, valued at $7.5 billion+), and led trust and compliance engineering at PhonePe, which is gearing up for India’s largest IPO.

“The global regulatory landscape is ripe for disruption,” said Anand Datta, Partner at Nexus Venture Partners. “Ritesh and Shashank, with their firsthand, proven expertise, developed Zango’s first-principles approach: uniquely marrying cutting-edge AI with human compliance expertise. Their AI-led solution is already augmenting the compliance team and increasing their efficiency at global financial institutions. We’re incredibly excited to be part of their journey.”

Published on July 1, 2025